In the new collective agreement, a change to include Camrose Operations financial results in the formula for Profit Share was agreed to and became effective with ratification of the agreement.
Considering this change, a retroactive recalculation was completed for the first three quarters of this year. This resulted in additional monies owing to eligible employees.
The table below shows the $ per eligible hour impact by quarter; payment will be in your bank account on or before December 16, 2022.
USW Profit Share Adjustment Q1 2022 Q2 2022 Q3 2022
Actual Payment $/hr $1.89 $4.04 $4.62
Payment with Camrose $/hr $2.33 $4.06 $5.18
Variance $/hr $0.43 $0.02 $0.56
Going forward, Camrose financial results are now included in the calculations